Alfa-Bank has developed a service for corporate clients that automates the handling of the self-employed.
The project is implemented in partnership with the open banking platform APIBank and the blockchain platform Waves Enterprise. It unites the Alfa.Corporate apps for companies and ‘My Income’ for individuals.
According to the developers, the service covers the entire end-to-end process for onboarding the self-employed and paying for their services, including registering a person as self-employed, organizing payments, automatic verification of the contractor’s status, registering their income and paying taxes on them, and revoking receipts in case of refunds.
Self-employed workers will now be able to receive payments to a card or to a bank account at any bank without visiting a branch.
“Alfa-Bank has applied the Bank-as-a-Service (BaaS) concept. The service’s flexible architecture allows it to adapt to changes in the tax regime and to the needs of both corporate clients and the self-employed,” said Denis Dodon, director of the Innovation Center at Alfa-Bank.
The Commercial Director of Waves Enterprise, Igor Kuzmichev, added that the blockchain provides corporate clients with a fast and secure channel for interacting with Alfa-Bank and simplifies onboarding a broad target audience.
Earlier in September 2019, Alfa-Bank launched a blockchain liquidity-management service on Waves Enterprise.
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